Philip Morris: smoke-free passes 40% of revenue, but cigarettes grew faster
FROM THE WIRE · FINANCE.YAHOO.COM
Philip Morris International (NYSE:PM) just reported a record quarter that looks like proof its smoke-free bet is working. Adjusted earnings per share reached $2.36, a quarterly high, and smoke-free products made up more than 40% of net revenue. But cigarettes grew faster, with…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralA record quarter with rising EPS, while the premium price requires faster smoke-free growth.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Adjusted earnings per share reached $2.36, a quarterly high.
- 02Smoke-free products made up more than 40% of net revenue.
- 03Cigarettes and other combustibles grew 6.4%, ahead of the 4.1% smoke-free gain.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets